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Thailand Property Market – REIC Foresees Fewer Condo Launches in 2014

By on Oct 16, 2013 in Property News

Next year should see fewer condominium projects than this year’s total of up to 75,000 units because of an oversupply amid higher construction costs, said Samma Kitsin, director-general of the Real Estate Information Centre of Government Housing Bank.

He also noted that a persistent labour shortage meant property developers could not construct and deliver homes to their customers on time, forcing them to limit their 2014 project launches.

Meanwhile, the government’s infrastructure mega-projects worth Bt2 trillion will further squeeze the labour supply for construction sector.

He added that housing prices also looked like increasing by 10-15 per cent next year, driven by rising costs of construction materials, land and labour.

Source | The Nation 16 October 2013 http://bit.ly/19H82Ru

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